Orr resigns

Orr, who was first appointed as Governor in March 2018, has given no reason for his resignation, but in his statement highlights hus achievements.

“I leave the role with consumer price inflation at target, and an economy in a cyclical recovery following the long period of Covid-related disruption. The financial system remains sound.

However, there is much work left to do on the major multi-year strategies RBNZ is following. Ongoing focus and funding will be critical to these projects’ success.”

“Over the last seven years we’ve significantly built our capability and capacity so we can respond to an increasing complex and challenging global environment. We’ve made considerable progress in our approach to monetary and financial policy, alongside driving much-needed maturity uplifts in our balance sheet capital, digital, data and technology.”